Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-14-Speech-3-266-750"
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"en.20110914.24.3-266-750"2
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"It is essential that competition should be free and fair. This rule, which is an absolute pillar of EU law, not only leads to rivalry between private operators, thus guaranteeing innovation and productivity, but also acts as a safeguard to protect consumers against potential price-fixing and abuse of market power. All markets should obey this fundamental rule. I naturally voted in favour of this regulation, therefore, as it is designed to stop abusive practices in the wholesale energy markets, from which consumers lose out. Among the measures it adopts, the report’s strong condemnation of insider trading struck me in particular: the unlawful use of inside information and practices aimed at manipulating the markets must be punished by the national authorities with penalties that reflect the harm suffered by consumers. I welcome the fact that trade in wholesale energy products will now be monitored independently throughout the whole of the European Union, and I hope that the Commission will give the Agency for the Cooperation of Energy Regulators (ACER) adequate resources with which to fulfil its function of monitoring and investigating breaches of the regulation."@en1
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